Three mega-corporations join the boycott campaigns against Facebook: Microsoft, Ford and Pepsi no longer advertise.
In the past few days, more than 100 companies have stopped advertising on Facebook and Instagram and boycott the social media platforms. Now three other big players in the US industry have joined the #StopHateforProfit campaign: software giant Microsoft, car manufacturer Ford and beverage company Pepsi have frozen all advertising budgets on Facebook and Instagram.
Ford said in a statement in the industry magazine "Ad Age" that you first pause all Facebook activities for 30 days and then reassess the situation. Fox Business also reports that PepsiCo, the parent company of Pepsi, Gatorade and Rockstar, has also discontinued all Facebook advertising, but has not made an official statement. Microsoft stated in a statement at "Axios" that all activities on Facebook had been stopped worldwide.
Hate messages and fake news
The protest is directed against the company of Mark Zuckerberg (36), which in the eyes of the participating companies does too little against hate messages and fake news online. A few days ago, small companies like outdoor clothing manufacturers Patagonia and North Face got the ball rolling. Later, more and more large companies joined the campaign, including telecommunications providers Verizon and the food companies Unilever and Coca-Cola.
The announcements of the companies shook Facebook's share price as the company generated 95 percent of its revenue from advertising revenue. Facebook boss Zuckerberg immediately responded to the dismissals of his advertising partners and announced extensive measures.